Sushanto Mitra, the Founder and CEO of Lead Angels, has emphasized the crucial role that startups play in driving modern economies through job creation and innovation.
In a recent statement, he urged the Indian government to adopt measures that could significantly bolster the startup ecosystem, drawing inspiration from practices in developed nations.
Mitra proposed that investors be allowed to write off startup investments over a five-year period, a strategy that could incentivize more capital flow into emerging businesses.
He also suggested extending similar benefits to employees exercising stock options and investments in SEBI-approved venture funds, which could further stimulate growth in the sector.
To facilitate a more conducive environment for startups, Mitra called for a reduction in compliance burdens for DIPP-registered startups during their formative years.
This would allow entrepreneurs to concentrate on business development rather than getting bogged down by complex regulatory frameworks.
He also highlighted the importance of integrating entrepreneurship into school and undergraduate curricula, which could cultivate an entrepreneurial mindset among young individuals and promote a culture of innovation from an early age.
Mitra pointed out that sectors such as defense and healthcare, where innovation is paramount, could benefit from targeted tax deferments.
Such measures would enable startups to develop essential capabilities that contribute to national security and address pressing societal issues, including the challenges posed by an aging population.
These recommendations, according to Mitra, could help create a robust startup ecosystem in India, positioning the country as a global leader in entrepreneurship.
As the head of Lead Angels, India’s first privately owned angel network, Mitra has been a pivotal figure in the startup investment landscape. With over 30 years of experience in entrepreneurship, innovation, and early-stage investments, he has guided numerous startups and investors in their growth journeys.
Lead Angels Fund, a SEBI-registered Alternative Investment Fund (AIF), focuses on empowering investors by offering a range of carefully selected opportunities across various stages of startup development, from seed funding to pre-IPO investments.
Under Mitra’s leadership, Lead Angels has redefined the support and funding landscape for startups, helping them scale their operations effectively.
The organization collaborates with startups at different stages, providing strategic consulting, angel funding, and guidance toward growth capital as they expand.
Before establishing Lead Angels, Mitra was the founding CEO of the Society for Innovation & Entrepreneurship (SINE) at IIT Bombay. His efforts were instrumental in transforming SINE into one of India’s most successful incubators, earning it the prestigious “Best Incubator” award from the President of India.
His tenure saw the launch of several successful ventures, including IdeaForge, Atomberg, and GupShup, which have since become leaders in their respective industries and significant contributors to the Indian economy.
Mitra’s diverse career spans various sectors, including boutique investment banking, equity funds, equity research, and corporate consulting, with a strong focus on early-stage investments.
He holds a Bachelor of Arts in Mathematics from St. Stephen’s College, Delhi, and began his career as an Equity Researcher at Meghraj SP Corporate Finance. He later served as Principal at Techcap India before taking on the role of Founding CEO at SINE. In 2012, he became a Director at Hyderabad Angels as part of the founding team.
In addition to his professional endeavors, Mitra is passionate about writing and cooking. He has contributed articles to leading publications such as the Economic Times, Your Story, Express Computers, and Dataquest.
He is also a co-author of “Funding My Startup & Other Nightmares,” a Penguin-published book that provides valuable insights into the startup journey for both entrepreneurs and investors.
Mitra is a TIE Charter Member and serves as a mentor on the FITT Advisory Board at IIT Delhi. He is also a visiting faculty member at prestigious institutions, including the IITs and IIMs, demonstrating his commitment to nurturing the next generation of entrepreneurs.
With his extensive experience and dedication to fostering innovation, Sushanto Mitra continues to inspire both investors and entrepreneurs, shaping the future of the Indian startup ecosystem.
